The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.
The December data shows:
- on average, house prices have risen 0.8% since November 2021
- there has been an annual price rise of 10.8% which makes the average property in the UK valued at £274,712
England
In England the December data shows, on average, house prices have risen by 1.1% since November 2021. The annual price rise of 10.7% takes the average property value to £293,339.
The regional data for England indicates that:
- the West Midlands experienced the greatest monthly rise with a movement of 2.6%
- the North East saw the most significant monthly price fall, with a movement of -1.5%
- the South West experienced the greatest annual price rise, up by 13.6%
- London saw the lowest annual price growth, with a rise of 5.5%
Price change by region for England
| Region | Average price December 2021 | Annual change % since December 2020 | Monthly change % since November 2021 |
|---|---|---|---|
| East Midlands | £235,004 | 12.1 | 1.1 |
| East of England | £339,502 | 11.7 | 0.4 |
| London | £521,146 | 5.5 | 0.2 |
| North East | £147,214 | 5.9 | -1.5 |
| North West | £200,172 | 10.2 | 0.6 |
| South East | £380,237 | 12.6 | 1.6 |
| South West | £314,037 | 13.6 | 1.9 |
| West Midlands | £238,238 | 11.5 | 2.6 |
| Yorkshire and the Humber | £196,877 | 9.8 | 1.8 |
Repossession sales by volume for England
The lowest number of repossession sales in October 2021 was in the East of England.
The highest number of repossession sales in October 2021 was in the North West.
| Repossession sales | October 2021 |
|---|---|
| East Midlands | 1 |
| East of England | 0 |
| London | 8 |
| North East | 6 |
| North West | 9 |
| South East | 3 |
| South West | 2 |
| West Midlands | 2 |
| Yorkshire and the Humber | 5 |
| England | 36 |
Average price by property type for England
| Property type | December 2021 | December 2020 | Difference % |
|---|---|---|---|
| Detached | £457,544 | £405,200 | 15.4 |
| Semi-detached | £277,459 | £249,953 | 11 |
| Terraced | £237,923 | £217,514 | 9.4 |
| Flat/maisonette | £244,734 | £231,756 | 5.6 |
| All | £293,339 | £264,971 | 10.7 |
Funding and buyer status for England
| Transaction type | Average price December 2021 | Annual price change % since December 2020 | Monthly price change % since November 2021 |
|---|---|---|---|
| Cash | £274,919 | 10.2 | 1.1 |
| Mortgage | £302,528 | 10.9 | 1.1 |
| First-time buyer | £242,951 | 9.8 | 1.2 |
| Former owner occupier | £337,133 | 11.6 | 1.1 |
Building status for England
| Building status* | Average price October 2021 | Annual price change % since October 2020 | Monthly price change % since September 2021 |
|---|---|---|---|
| New build | £382,244 | 22.3 | 1.9 |
| Existing resold property | £276,885 | 7.8 | -2.1 |
*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.
London
London shows, on average, house prices have risen by 0.2% since November 2021. An annual price rise of 5.5% takes the average property value to £521,146.
Average price by property type for London
| Property type | December 2021 | December 2020 | Difference % |
|---|---|---|---|
| Detached | £1,050,087 | £957,470 | 9.7 |
| Semi-detached | £661,958 | £618,971 | 6.9 |
| Terraced | £563,709 | £532,917 | 5.8 |
| Flat/maisonette | £439,579 | £421,321 | 4.3 |
| All | £521,146 | £494,193 | 5.5 |
Funding and buyer status for London
| Transaction type | Average price December 2021 | Annual price change % since December 2020 | Monthly price change % since November 2021 |
|---|---|---|---|
| Cash | £539,524 | 5.5 | -0.5 |
| Mortgage | £515,002 | 5.4 | 0.4 |
| First-time buyer | £450,361 | 4.8 | 0.3 |
| Former owner occupier | £598,059 | 6.3 | 0.2 |
Building status for London
| Building status* | Average price October 2021 | Annual price change % since October 2020 | Monthly price change % since September 2021 |
|---|---|---|---|
| New build | £549,797 | 13.4 | 2.0 |
| Existing resold property | £518,035 | 6.0 | 1.5 |
*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.
Wales
Wales shows, on average, house prices have fallen by 2% since November 2021. An annual price rise of 13% takes the average property value to £204,835.
There were 2 repossession sales for Wales in October 2021.
Average price by property type for Wales
| Property type | December 2021 | December 2020 | Difference % |
|---|---|---|---|
| Detached | £317,403 | £274,956 | 15.4 |
| Semi-detached | £197,369 | £174,806 | 12.9 |
| Terraced | £158,776 | £141,909 | 11.9 |
| Flat/maisonette | £131,091 | £120,797 | 8.5 |
| All | £204,835 | £181,724 | 13.0 |
Funding and buyer status for Wales
| Transaction type | Average price December 2021 | Annual price change % since December 2020 | Monthly price change % since November 2021 |
|---|---|---|---|
| Cash | £197,658 | 12.0 | 1.5 |
| Mortgage | £208,930 | 13.4 | 2.2 |
| First-time buyer | £175,908 | 12.5 | 2.3 |
| Former owner occupier | £238,945 | 13.6 | 1.7 |
Building status for Wales
| Building status* | Average price October 2021 | Annual price change % since October 2020 | Monthly price change % since September 2021 |
|---|---|---|---|
| New build | £292,721 | 29.3 | 3.9 |
| Existing resold property | £195,976 | 13.2 | 0.3 |
*Figures for the 2 most recent months are not being published because there are not enough new build transactions to give a meaningful result.
UK house prices
UK house prices increased by 10.8% in the year to December 2021, up from 10.7% in November 2021. On a non-seasonally adjusted basis, average house prices in the UK increased by 0.8% between November and December 2021, the same increase as during the same period a year earlier (November and December 2020).
The UK Property Transactions Statistics showed that in December 2021, on a seasonally adjusted basis, the estimated number of transactions of residential properties with a value of £40,000 or greater was 100,110. This is 20% lower than a year ago. Between November and December 2021, UK transactions increased by 7.6% on a seasonally adjusted basis, following a large increase in the month prior.
House price growth was strongest in Wales, where prices increased by 13% in the year to December 2021. The lowest annual growth was in London, where prices increased by 5.5% in the year to December 2021.
See the economic statement.
The UK HPI is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion. The price data feeding into the November 2021 UK HPI will mainly reflect those agreements that occurred after the government measures to reduce the spread of COVID-19 took hold.
Source: HM Land Registry
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